Until the last few years bitcoin was something that great Warren Buffett resisted but suddenly it's became an asset class . Tesla had recently invested nearly $1.5 billion which is reason for such a spike in its value. The more we humans agree to something that it is valuable it's value rises and becomes an asset .
The basic difference between paper money and bitcoin is that paper money is centralised which means it's central to a particular government or authority while bitcoin is decentralised digital currency which lacks a central bank or administration which is good . The biggest advantage of bitcoin is that it can be sent peer-to-peer without any intermediate.
Bitcoin was released in the year 2009 by Satoshi Nakamoto.Bitcoin consists of public key which is like your email address which you can share with anyone and private key which is like your email address password which you cannot share .Something to worry about is if you've lost your private key basically you've lost all your stake in bitcoin. So never share your private key with anyone. As we all know that there's only specific amount of metals in earth's crust similarly only 21 million bitcoins can be mined after which mining stops . As more and more people invest in bitcoin its value rises . Initially when bitcoin was started its value was $0 which has reached as high as $40,000 . Bitcoin works on block chain technology which in simple terms means that it's impossible to hack or edit . Currently bitcoin worth's $33,000 which is huge . Imagine if someone had invested in bitcoin when it's price was not that high and patiently waited for this moment ! The biggest advantage is that you need not always buy bitcoin in whole numbers you can invest in a very small share of a bitcoin for instance 0.10 bitcoin. Elon Musk believes that cryptocurrency may be the currency of the future generations as it is compatible and decentralised. Many other crypot's have emerged since then in the market like Ethereum which is also gaining public interest . Recently a cryptocurrency named dogecoin which was basically a meme crypto gained a massive spike in its value just because Elon believed that fate and irony love each other and dogecoin can be the future bitcoin . Today investing in cryptocurrency has become very easy as more and more apps have developed and made trading easy also the young generation is believing in cryptocurrency. You just need to deposit money through your bank account or UPI and buy your gem(s) .
So wouldn't it be great to invest in such cryptocurrencies which are completely decentralised and public. It is assumed that bitcoin might reach $500000 by the year 2030.Remember βOnly smart people understand Bitcoin and Ethereum, and thatβs why most of the people in the world don't understand it, thus not involved in it.β So think and invest wisely !